Author, ‘Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State’ Deputy Governor, Bank of England, 2009-2013

Fellow, Harvard Kennedy School of Government

Bio

Sir Paul Tucker is the author of the forthcoming book ‘Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State’ (Princeton University Press, May 2018.) ‘Unelected Power’ examines how central bankers have emerged from the financial crisis as the third great pillar of unelected power alongside the judiciary and the military. It lays out the principles needed to ensure that central bankers, technocrats, regulators, and other agents of the administrative state remain stewards of the common good and do not become overmighty citizens. Sir Paul joined The Systemic Risk Council as Chair in 2015, the SRC is a private sector, non-partisan body of former government officials and financial and legal experts committed to addressing regulatory and structural issues relating to global systemic risk. He previously served as Deputy Governor at the Bank of England from 2009-2013 and as a member of the G20 Financial Stability Board’s Steering Group. Sir Paul was a member and Vice-Chair of the bank’s Monetary Policy Committee, Financial Policy Committee, Prudential Regulatory Authority Board and Court of Directors. Internationally, he was a member of the steering committee of the G20 Financial Stability Board, and chaired its Committee on the Resolution of Cross-Border Banks. He is a Fellow at Harvard Kennedy School of Government. In 2014, he was granted a knighthood for his services to central banking. In addition to his work at Harvard, he currently serves as a director at Swiss Re, a leading global re-insurer.